I Tried to Sell $17,000 in Silver to Coin Shops... SHOCKING Results!

in today's video I'm going to be trying to sell 90% silver to coin shops and seeing what they offer me for my bag of 90% silver now 90% silver being your dimes quarters and half dollars 1964 and before and we're going to see if we can get at least one coin shop to offer Us full spot price or full melt price for our 90% dimes quarters and halves can we do it will we succeed or will we be low balled by all these coin shops well you're going to have to watch and find out let's get on the phone and see what they offer us my channel is sponsored by sdbullion.com new customers can get their first order of gold or silver at spot by going to sdbullion.com neww yeah do you guys buy 90% silver coins yes we do okay what are you paying today um we are are paying well for dimes and quarters we're paying ,550 for house we'd be paying 16 so, 1550 for dimes and quarters but Hales 16 yep okay um now can you buy quantity like if I wanted to sell a lot of it at once like let's say a thousand face yep all right all right I appreciate it thank you bye wow $1,550 for diamond and quarters and $16 for half guys stay with me let's do this math so we have silver 2466 if we multiply that by 715 that is how many ounces of silver you have per $1 face value whether it's four quarters 10 dimes $2 half however you add it up it melts today for 1763 so if we were to sell them 1,000 face the melt value would be 17,635 but they would only be paying us $15,500 that means we would be losing over $2,000 worth of silver by selling it to him now if you want to know how much of spot or back of spot that is let's do it so if we take our our, 1550 times 1.4 and what 1.4 is is how many dollars of face value that you need to get to 1 ounce of silver that means they were actually paying us $21.70 per ounce for our silver subtracted from our 2466 that means they were buying it for $3 an ounce back of melt and the half dollars while a little bit better we still not much more so 16 * 1.4 2240 minus 2466 we were losing $226 per ounce on our half dollars given that the 90% premiums seem to be going up right now that is not what we would be looking for and certainly not what I would recommend selling 90% for today but that's only our first shop let's call Shop number two but before we call shop two really quick if you guys like videos like this and you want to see more the best thing you could do to help me support and grow this channel is going down below and making sure you are subscribed if you don't like this video don't do it but if you do I would definitely appreciate it all right let's get the shop two yeah are you guys buying 90% silver today uh what kind of 90% silver that you're talking about Sir like dimes quarters and a half dollars uh yes we do okay what are you paying for it today being 17 times 17 times is that the same for all dimes quarters and halves correct all right 17 times the face value perfect now can you buy a lot of it at once like let's say I wanted to sell like a thousand face value is that something you can do sure we can do that all right I appreciate it thank you thank you bye all right $17 is definitely better than our first shop let's find out how that works out with the math so we'll grab our calculator and take 17 * 1.4 that means they were're offering us 2380 if we subtract our 2465 spot that leaves us with 85 cents an ounce on the table now we have 75 o of silver in 1,000 face so we'll multiply that by 715 Oz and you can see if we sold to this shop we would still be leaving $67 worth of silver on the table that is certainly a lot better than our first shop but I would love to find out if we can find a shop like I said earlier that is going to pay us full spot price so let's call Shop number three and see what what they say yeah are you guys buying 90% silver coins today yes um what are you paying how much do you have um I mean I don't know how much I want to sell but I have a thousand face he said all varies on what you want to sell okay well let's say I sold a 100 face what would you pay for that 100 face yep 1475 okay now would you pay more or less if I uh sold the entire bag more more okay um just so I know I'm I'm not even saying I'm going to bring it in but just so I know cuz I am calling some different places how much more yeah you pay 15 and a quarter all right thank you I wrote it down and I really appreciate it okay all right bye okay so that shop was a little bit different way back of what we're looking for $475 if I only sold $100 face value 15 and a quarter so 50 c more per dollar if I sold them all 1,000 I would assume the reason for that is they would take that, like I said in other videos and then ship it out to like a wholesaler and dump it quick and be able to turn some money over but 1525 is way too back let's take a look at these numbers so let's go ahead and say we're going to sell them the $100 face he said $475 per dollar so if we take that multiply it by 1.4 that's $20.65 per ounce subtract it from 2462 that is $3.97 per ounce he is buying it back of spot so if we sell them all 100 face at that number there're 71. 5 O and 100 face that relieves us with $284 worth of silver that is left on the table we will never get back that silver is just gone now let's say we accept his 1525 and we're going to sell all of our silver all 1,000 face value so 1525 * 1.4 is 2135 per ounce subtract 2456 leaves us with $321 multiply that by 715 ounces which is how many ounces you have in a th000 face that means we are losing $2295 worth of silver that is definitely not the numbers we're looking for so far we have struck out trying to find that shop that is going to buy our silver for a melt but let's keep calling and see what we can find yeah can you tell me are you guys buying 90% silver right now uh yeah we're always buying coins um what do you have exactly or how much face value uh well I don't know how much I want to sell but I have up to a thousand face value okay well that's a a good problem to have um you really just have to come in and um talk to he does like to see what he's buying um and it it really just depends do you have a idea of what you were trying to get out of it or I mean it's just it's circulated there's nothing that's like too worn so I was just calling around to some shops to see what they were paying per dollar yeah I mean I guess we're starting out it's just I'd say just an average and that's why I say we like to see what we're buying who we're buying from and stuff but it's probably going to start out about 12 times and go up that's just kind of a a rough ballpark now when you have a quantity like that it's different cuz like I said we because that's enough for us to make a sale cuz it's a bigger quantity than as if somebody comes in and they just have a couple quarters you know and we have to accumulate and and you know there's a whole process you know but that's just kind of a rough average where it starts rough average I guess but once you're really you come in and talk um he's the owner he's actually out um today but he'll be back in here tomorrow and then he can get you know a fresh price and you know you just kind of go from there okay all right well there's a lot of things that do factor into it but I guess them if you know most of yeah but you're right most of it's just silver you know because we don't um you know when it comes in like that we don't really search through the dates it's just traded for silver cuz most of that stuff in the you know 30s 40s 50s 60s you know that's just what they were you know and that's that's all it is is just silver I know there's no better dates or key dates in there or anything like that so yeah and so that like I said that 12 was just kind of a starting point but like I said once you get in here and what is what it is you know what is what is he getting you know he's he would probably be more than that on that type of quantity so okay well I appreciate it thank you all righty thank you byebye byebye okay so to be totally fair to that shop she said that the owner wasn't in and she just figured 12 was around a starting point so let's give them credit and say maybe the owner would offer us more than $12 per dollar but for fun let's just assume that's what they paid let's grab the calculator and see how bad that is wow so if we take 12 * 1.4 they were paying $16.80 per ounce Min is 2462 that is $782 an ounce under spot if we multiply that by 1,000 or it wouldn't be 1,000 it would be 715 if we multiply it by 715 Oz that'd be $ 5,591 we're leaving on the table and if I just confused you with the math let's do it a little bit different away let's say we have 1,000 facetimes 715 so that leaves us with 715 oz of silver and then we multiply that by the difference between spot and what they were offering us which was I believe 783 if I remember there you go so $5 5600 worth of silver left on the table but again we're going to be totally faired to that shop and say you know he may have offered us more if we actually brought it in but that's probably not somewhere I would want to spend my time going and maybe would call them back another day when the owner was there and get a better idea but I certainly wouldn't walk in after hearing that so uh we are not doing good we are still looking for that one coin shop that's going to pay us melt let's keep going yeah are you guys buying 90% silver um yeah okay uh what are you paying today and I'm calling around multiple shops just so you know I'm just trying to get some numbers uh probably just depends what it looks like I mean sometimes some of it's more wor out than others um I'm pretty I'm pretty picky none of it's slick so there's no slicked ones in there at least not that I'm aware of I'm pretty picky when I buy it sure you know right around 17 times what I'm buying it at okay all right yeah that's uh that's probably one of the better ones I've heard today so far I appreciate it yep you're welcome all right and and do you guys can you guys buy in quantity like if I had a thousand to thousand face is that something you can purchase um yeah yeah okay cool all right thank you so much you're welcome bye bye all right so we already did the math on 17 times earlier but let's do it again just for fun so 17 * 1.4 is 2380 minus 2461 so we're losing about 81 cents per ounce and we have 715 ounces uh so if we multiply that by 715 we're losing about $580 all right let's keep going and we're going to try another shop and see if we can't find someone at least paying us melt we're getting close though yeah are you guys uh buying 90% silver today uh yes we are okay could you tell me what you're paying I guess what do you have exactly it's it's a mixture of diamond quarters and halves but I don't have any slicks I I'm pretty good at weeding those out of it right uh 16.5 times face value is what we'd pay today oh it's not bad um now are you uh do you pay more or less if I were to sell in quantity do you know like let's just say let's say I had a thousand face yeah it'd be the same be the same all right cool all right I appreciate it thank you thank you MH bye okay well I said that's not bad but again we are still trying to find a coin shop that's going to pay us at least melt and we are striking out all across the board now many of my commenters said if I have noticed as well that the premiums in other words what you're paying for overs spot for 90% is going up so we are still unable to find a single shop that's willing to pay us at least M but let's do 16.5 and see what we have and if we take 16.5 * 1.4 that is $23.10 per ounce minus our 2458 which is what we have spot showing for now it's been going down a little bit throughout the course of these calls is $148 if we multiply that by our 715 Oz we're leaving over $11,000 on the table so again we have yet to find a single coin shop willing to pay us overs spot for n or even spot I'm not even trying to get over spot I'm just trying to find a single shop that's willing to pay a spot for 90% And we have struck out six times we're going to try one more shop before we call it here let's see what we can find yeah could you tell me are you guys buying 90% silver today yes okay could you tell me what you're paying 17 times safe 17 times and can you buy in quantity and do you pay any less or more for quantity like let's say I had a thousand face uh they have quarters of time it's a mixture mixture and you have a thousand P yeah I'm not saying I'm going to sell it but I'm just wondering if you'd pay more if I did okay do we pay any more if he's got th Fe it's a mixture that's the price it's based off of where we are with spot that's fine I just wanted to ask thank you sure y bye all right so we just did 17 times in another call but that is seven coin shops in a row we were unable to find a shop offering us at least spot price for a 90% silver so a very interesting video today for sure and a lot of calls and unfortunately we were unable to complete our goal of selling 90% silver for at least melt or spot price failed we straight up failed today guys I'm not going to keep calling that's already seven shops that we have called but uh yeah it didn't work out so let me know what you think are you buying 90% silver right now are you holding on to something that you want to sell but you can't find anyone to give you a good number I would love to know your thoughts so leave them in a comment down below now YouTube by the way thinks that you would like this video up above me so if you haven't seen that yet you should go watch that right now and before you do that though don't forget to subscribe on your way out thank you guys so much and we'll see you next time

Channel: Silver Seeker

Views: 29,368

Keywords: Rare Coins, Silver Coins, Coins Worth Money, Valuable Coins, Silver, Silver Bullion, Silver Seeker, coin shop owner, precious metals, gold and silver, silver price, selling silver, how to sell silver, coin shop, coin shops, silver stacking, local coin shops, local coin shop, investing in silver, constitutional silver, silver dealer, sell silver, junk silver, 90% silver, old silver coins, selling old silver coins

Id: DxO3VtERYa8

Length: 15min 23sec (923 seconds)

Published: Wed Mar 27 2024